Ireland: Technology

Ireland has emerged as Europe's leading destination for AI and technology investment, yet a significant readiness gap is emerging across Irish businesses. The third William Fry Technology Report reveals that while 80% of large firms have invested in AI, 70% of businesses overall have yet to do so, and only 11% of large businesses report achieving positive returns on their AI investments.

The European Data Protection Board and European Data Protection Supervisor have issued their Joint Opinion on the European Commission's proposed Cybersecurity Act 2 and amendments to the NIS 2 Directive. While generally supportive of strengthened cybersecurity measures, the opinion emphasizes the need to balance effective security protocols against fundamental rights to privacy and data protection, offering specific recommendations to ensure compliance with EU data protection law.

Dr Barry Scannell and tech entrepreneur Sean Blanchfield explore the transformative shift from AI copilots to autonomous agentic AI systems that are already functioning as digital workers within organisations. The discussion delves into how these AI agents are reviewing contracts, monitoring compliance, managing projects, and writing software, while examining the critical implications for governance, security, data protection, and the future of professional work.

This monthly legal update examines critical developments across pension scheme compliance, artificial intelligence governance, ESG fund marketing regulations, environmental law precedents, payment services legislation, and defined benefit pension surplus management. Each article addresses pressing regulatory challenges and strategic considerations for legal practitioners and corporate decision-makers navigating Ireland's evolving legal landscape.

Ireland has emerged as Europe's leading destination for AI and technology investment, yet a significant readiness gap is emerging across Irish businesses. The third William Fry Technology Report reveals that while 80% of large firms have invested in AI, 70% of businesses overall have yet to do so, and only 11% of large businesses report achieving positive returns on their AI investments.

The Irish Court of Appeal has established groundbreaking principles governing artificial intelligence use in legal proceedings, addressing the risks of AI-generated hallucinations and fabricated case citations. What obligations do litigants and lawyers now face when leveraging AI tools for legal research, and what sanctions might courts impose for non-compliance with these new guidelines?

Ireland's position as a FinTech hub makes it an attractive jurisdiction for payment institutions seeking authorisation.

Ireland's implementation of AIFMD 2.0 brings significant regulatory changes for alternative investment funds, alongside evolving requirements for ESG disclosure and board effectiveness. The Central Bank of Ireland explores emerging opportunities in distributed ledger technology, tokenisation, and artificial intelligence while addressing future modifications to venture and growth capital fund regulations.

Arthur Cox LLP presents key regulatory developments in European financial services for May 2026, covering the final compromise texts for PSD3 and PSR, the Central Bank of Ireland's integration of crypto-asset...